EDM specialist Beatport has entered into a partnership with Looplabs, a collaborative music studio platform. The deal seems focused on fostering crossover between the two services’ audience bases. Looplab users with Beatport accounts will receive access to a selection of sounds and samples from Beatport’s store, while new Beatport members will also be offered a chance to sign up for the partner business. Looplabs members will also be able to publish their creations to Beatport’s streaming service.
Even though Beatport is still engaging with other music platforms, parent company SFX Entertainment has been drawing lots of scrutiny. The company has been facing financial difficulties for the past several months. Most recently, SFX secured $20 million in cash flow from a Canadian private equity firm that specializes in “investments in distressed situations.”